Avesthagen signs LoI with France company to develop vaccine

Published: Friday, April 25, 2008, 19:33 [IST]

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Bangalore, Apr 25 (UNI) India's leading knowledge-based Life Sciences Company, Avesthagen Limited today signed a Letter of Intent(LoI) with a Paris-based ShigaMediX SAS to develop a novel therapeutic vaccine against Human Papilloma Virus(HPV), that causes cervical cancer which, according to research, accounts for an estimated 24 per cent of India's cancer cases confronting women and approximately 130,000 new cases annually across the globe.

Avesthagen and ShigaMediX will co-develop the technology in both France and India through the 'Proof of Concept' and would share the costs and rewards on an equal basis said Dr Villoo Morawala-Patell, Founder and CMD, Avesthagen Limited after signing the LoI.

The companies would finalise process for development and licensing agreements soon, a release said here.